https://www.taxtmi.com/caselaws?id=462733 ITAT Ahmedabad allowed the appeal, deleting additions under Section 69A for cash deposits during demonetization. The tribunal held that cash deposits with proper documentation and accounting records cannot be treated as unexplained money unless revenue demonstrates unreliability of books. Since the assessee maintained regular books, recorded sales, filed VAT returns, and provided supporting evidence without any concrete counter-evidence from AO, the deposits were substantiated and not unexplained. en-us Wed, 30 Oct 2024 00:00:00 +0530 Fri, 11 Jul 2025 20:19:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462733 ITAT Ahmedabad allowed the appeal, deleting additions under Section 69A for cash deposits during demonetization. The tribunal held that cash deposits with proper documentation and accounting records cannot be treated as unexplained money unless revenue demonstrates unreliability of books. Since the assessee maintained regular books, recorded sales, filed VAT returns, and provided supporting evidence without any concrete counter-evidence from AO, the deposits were substantiated and not unexplained. Case-Laws Income Tax Wed, 30 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462733